Activison Surges As Microsoft Takeover Bid is Approved
Jul 11, 2023 By MarketDepth
Activision Blizzard (ATVI:NASD) is up on the day as the courts approve Microsoft’s purchase of Activision. The purchase price is $69 billion and its most notable game is Call of Duty. The argument from the FTC was “harm competition in high-performance gaming consoles” by limiting access to games to certain consoles.
Activision is up 11% for a stock price of $92 which is up 20% on the year.
The all-cash offer gives Activision a price of $95 a share and gives Microsoft access to 30 game development studios and e-sports publishing capabilities. This will give Xbox a major advantage in the battle for the leader in the space.